Sharekhan has given Buy recommendation for Grasim Industries with a target price of Rs. 1780 in its research report issued on Aug 13, 2021

Sharekhan’s research report on Grasim Industries

Grasim reported better-than-expected net earnings as operational performance of both the viscose and chemical divisions exceeded expectations. Grasim’s expansion in VSF, chlor-alkali and e-poxy remain on track. Expect incremental capacity additions to aid growth amid a resurgence in pent-up demand post the second wave of COVID-19. Grasim is in the process of acquiring land for a paints plant that is expected to come up in the next two years.

Outlook

We retain a Buy on Grasim with a revised PT of Rs. 1,780 factoring revised valuation for UltraTech and its other listed subsidiaries.

 

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